Stanbic IBTC, the Nigerian unit of South Africa's Standard Bank said on Thursday its net profit fell by a third to 5.5 billion naira ($37 million) in the six months to the end of June.
Gross earnings dropped to 27.12 billion naria in the period from 29.87 billion a year earlier, the bank said in a filing to the Nigerian Stock Exchange.
The bank said it had made a provision of 332 million naira for loan losses in the period.